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The Number of Czech Firms in the Technology Fast 50 Ranking Drops but New Firms Show Strong Growth PotentialDeloitte recently announced the results of the 10th annual Central European ranking of the 50 fastest growing technology compani |
Prague, 22 October 2009 — INSIA, an insurance broker, is the fastest growing Internet firm in the Czech Republic. This is one of the findings of Deloitte’s latest Technology Fast 50 competition, which ranks the 50 fastest growing technology firms in Central Europe. The competition is based on a comparison of companies’ turnover from 2004 to 2008.
Poland once again came out on top as Netmedia, an Internet operator, took first place, reporting turnover growth of 7,210%. The most successful Czech representative, INSIA, placed 15th with turnover growth of 789%. INVIA CZ, an Internet travel agency, was the other Czech entity to make it into the top 20, placing 18th with growth of 686%.
“Although the average growth of the Fast 50 companies dropped from the previous 1,271%, growth of 933% is still a remarkable achievement in the current economic climate”
—Dariusz Nachyla,
Deloitte Managing Partner for the Technology, Media & Telecommunications industry in Central Europe
Even though Czech firms fell out of the top 10 and their number in the Technology Fast 50 is declining, they scored very high in the “Rising Stars” category, which ranks “young” companies that have been in operation for less than five years but have reported substantial growth for at least three years. The top 10 in this category includes four Czech firms, Internet Shop being the most successful (see the second table below).
In terms of countries, Hungary has the highest number of representatives in Central Europe, accounting for 22%. This year’s ranking, however, shows the presence of many countries whose firms made it into the elite 50 for the very first time. Serbia and Romania, for example, are two countries that experienced significant improvements. In total, the 10th annual Technology Fast 50 included 10 countries: the Czech Republic, Hungary, Poland, Slovakia, Romania, Bulgaria, Croatia, Serbia, Lithuania and Estonia.
“Although the average growth of the Fast 50 companies dropped from the previous 1,271%, growth of 933% is still a remarkable achievement in the current economic climate,” says Dariusz Nachyla, Deloitte Managing Partner for the Technology, Media & Telecommunications industry in Central Europe.
Companies that wish to participate in the Fast 50 must meet several criteria, including:
- Annual revenues of at least EUR 50 thousand in each of the last five years (2004-2008);
- Headquarters in a Central European country;
- Development or production of proprietary technologies or devotion of a significant proportion of their revenues to research and development of technology; and
- Ownership structure that excludes majority-owned subsidiaries of strategic entities.
Details on these criteria are available at www.deloitte.com/fast50ce. After meeting these criteria, companies are ranked according to the percentage of revenue growth achieved in the five-year period from 2004 to 2008.
Technology Fast 50
| Rank | Company | Country | Website | Sector | Growth |
| 1 | Netmedia S.A. | Poland | www.netmedia.com.pl | Internet | 7210% |
| 2 | TeamNet International S.A. | Romania | www.teamnet.ro | Software | 3317% |
| 3 | Kompan.pl Sp. z o.o. | Poland | www.kompan.pl | Internet | 2411% |
| 4 | Sunrise System sp. z o.o. | Poland | www.sunrisesystem.pl | Internet | 2364% |
| 5 | Telerik Corp. | Bulgaria | www.telerik.com | Software | 2327% |
| 6 | Investor.BG AD | Bulgaria | www.ibg.bg | Internet | 2130% |
| 7 | Agito S.A. | Poland | www.agito.pl | Internet | 1744% |
| 8 | AROBS Transilvania Software S.R.L. | Romania | www.arobs.com | Software | 1663% |
| 9 | AITIA International Informatics, Inc. | Hungary | www.aitia.ai | Software | 1399% |
| 10 | EXECOM d.o.o. | Serbia | www.execom.eu | Software | 1127% |
| 11 | ESET, spol. s r.o. | Slovak Republic | www.eset.eu | Software | 951% |
| 12 | SOITRON, a.s. | Slovak Republic | www.soitron.com | Telecommunications / Networking | 880% |
| 13 | Grupa Pracuj Sp. z o.o. | Poland | www.pracuj.pl | Internet | 864% |
| 14 | Semilab Semiconduktor Physics Laboratory Co. Ltd. | Hungary | www.semilab.hu | Semiconductors, Components and Electronics | 837% |
| 15 | INSIA a.s. | Czech Republic | www.insia.com | Internet | 789% |
| 16 | Arkon Zrt. | Hungary | www.ingatlan.com | Internet | 727% |
| 17 | CROZ d.o.o. | Croatia | www.croz.net | Software | 691% |
| 18 | INVIA.CZ, s.r.o. | Czech Republic | www.invia.cz | Internet | 686% |
| 19 | Millennium 000, spol. s r.o. | Slovak Republic | www.millennium000.com | Software | 670% |
| 20 | UNIVERSAL K Ltd. | Bulgaria | www.universal-k.com | Telecommunications / Networking | 664% |
| 21 | EXTERNET Nyrt. | Hungary | www.externet.hu | Telecommunications / Networking | 659% |
| 22 | StringData, s.r.o. | Czech Republic | www.stringdata.cz | Software | 653% |
| 23 | Tau on-line d.o.o. | Croatia | www.moj-posao.net | Internet | 622% |
| 24 | Carnation Zrt. | Hungary | www.carnationgroup.com | Internet | 601% |
| 25 | eo Networks Sp. z o.o. | Poland | www.eo.pl | Software | 596% |
| 26 | BalaBit IT Security Kft. | Hungary | www.balabit.com | Software | 562% |
| 27 | NET Média Zrt. | Hungary | www.portfolio.hu | Internet | 538% |
| 28 | Webmedia Group | Estonia | www.webmedia.eu | Software | 507% |
| 29 | LASTING Software S.R.L. | Romania | www.lasting.ro | Software | 487% |
| 30 | M2 NET S.A. | Poland | www.m2net.pl | Software | 480% |
| 31 | Infomatix Kft. | Hungary | www.infomatix.hu | Software | 469% |
| 32 | Trask solutions s.r.o. | Czech Republic | www.trask.cz | Software | 457% |
| 33 | Kancellár.hu Zrt. | Hungary | www.kancellar.hu | Software | 456% |
| 34 | Interconsult Bulgaria OOD | Bulgaria | www.icb.bg | Software | 447% |
| 35 | THE RED POINT S.A. | Romania | www.theredpoint.ro | Software | 430% |
| 36 | XAPT Hungary Kft. | Hungary | www.xapt.hu | Software | 389% |
| 37 | DATASYS s.r.o. | Czech Republic | www.datasys.cz | Software | 389% |
| 38 | Advatech Sp. z o.o. | Poland | www.advatech.pl | Computers / Peripherals | 388% |
| 39 | MadNet d.o.o. | Serbia | www.madnet.rs | Telecommunications / Networking | 383% |
| 40 | KLISING d.o.o. | Croatia | www.edge-group.info | Software | 370% |
| 41 | MadNet, a.s. | Slovak Republic | www.madnet.sk | Internet | 361% |
| 42 | Mobiliųjų telefonų techninis centras UAB | Lithuania | www.mttc.lt | Telecommunications / Networking | 356% |
| 43 | Algotech d.o.o. | Serbia | www.algotech.rs | Telecommunications / Networking | 352% |
| 44 | LMC s.r.o. | Czech Republic | www.lmc.eu | Internet | 352% |
| 45 | Advantage Software Factory S.R.L. | Romania | www.asf.ro | Software | 350% |
| 46 | HáziPatika.com Kft. | Hungary | www.hazipatika.com | Internet | 323% |
| 47 | Romanian Soft Company S.R.L. | Romania | www.rsc.ro | Software | 312% |
| 48 | CYGNI SOFTWARE, spol. s r.o. | Czech Republic | www.cygni.cz | Software | 302% |
| 49 | home.pl sp.j. | Poland | www.home.pl | Internet | 300% |
| 50 | WDF - Web Design Factory, spol.s r.o. | Czech Republic | www.wdf.cz | Internet | 298% |
“Rising Stars”
| Rank | Company name | Country | Website | Sector | Growth |
| 1 | Multicom d.o.o. | Croatia | www.multi.com.hr | Software | 1805% |
| 2 | Internet Shop s.r.o. | Czech Republic | www.parfums.cz | Internet | 1137% |
| 3 | LiveSport s.r.o. | Czech Republic | www.livesport.eu | Internet | 1088% |
| 4 | RAYNET s.r.o. | Czech Republic | www.raynet.cz | Software | 838% |
| 5 | Kentico Software s.r.o. | Czech Republic | www.kentico.com | Software | 710% |
| 6 | Sygic, s.r.o. | Slovak Republic | www.sygic.com | Software | 665% |
| 7 | E-Financial S.A. | Poland | www.e-financial.pl | Internet | 612% |
| 8 | Nav N Go Kft. | Hungary | www.navngo.com | Software | 384% |
| 9 | HAND Ltd. | Bulgaria | www.sonicad.biz | Software | 315% |
| 10 | EuroTax Sp. z o.o. | Poland | www.euro-tax.pl | Internet | 253% |
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